Bitcoin has been growing for three consecutive weeks. Last week Bitcoin touched $8350 which is this year’s all time high. Towards the end of the week Bitcoin suffered a brief crash. On Friday Bitcoin dropped from $7800 to $6180 on Bitstamp. A single investor sold over 3000 Bitcoins on Bitstamp which triggered a wave of sell offs on BitMex exchange.
The market quickly recovered after the crash. Currently Bitcoin is trading at around $7900. The total market capitalization maintained its $240 billion level. As Bitcoin climbed over $8000 last week google searches for Bitcoin spiked to 13 month high. Bitcoin was more popular than other big searches such as Tesla, SpaceX and Donald Trump.
Last week the cryptocurrency industry had one of the biggest annual conferences, Consensus. Large enterprises continue entering the crypto space. The industry has been building up steadily, adoption is growing, companies are building the infrastructure. More positive news are coming out from major enterprises who are adopting the blockchain technology.